Tuition and Expenses
We understand that a private college education is a significant undertaking for any family, and our goal is to make sure it remains manageable for you. To that end, we offer need-based aid and financing plans for families at all income levels—in fact, approximately 70 percent of Harvard students receive some form of financial aid.
This fact sheet outlines the full cost of a Harvard education, before accounting for financial aid or other awards. If you are eligible for aid, you may also receive an additional standard allowance for travel and personal expenses.
|Subtotal - billed costs||$63,025||$60,659|
|Estimated personal expenses (including $800-$1,200 for books)||$3,875||$3,741|
|Estimated travel costs||$0 - $5,200||$0 - $5,200|
|Total billed and unbilled costs||$66,900 - $72,100||$64,400 - $69,600|
|* In addition, health insurance is required at a cost of $2,630 (for 2016-17) unless you are covered under your family’s health plan.|
|大致旅行费用||$0 - $5,200||$0 - $5,200|
|账单费用和非账单费用合计||$66,900 - $72,100||$64,400 - $69,600|
Many Ways to Support Your Education
When you qualify for financial aid from Harvard, we use a combination of resources to create an individualized aid package to meet your demonstrated need. This may include scholarship funds, student employment, and loans, as well as any awards you’ve earned from outside sources.
We will work with your family one on one to help you navigate options and make sure Harvard is an affordable option for your undergraduate education.
After we assess your financial situation, we cover the remainder of your need with scholarship assistance and the offer of a campus job.
Covering 100% of Your Demonstrated Need
Because Harvard is committed to affordability, our scholarships are designed to completely cover your demonstrated financial need. Here is our process:
First we determine your award by establishing your parent contribution.
Then we factor in student employment and any outside awards you’ve received.
Your remaining need will be covered by scholarship funds.
These awards come from a variety of sources, including Harvard endowment funds, gifts from alumni, general tuition revenues, and federal and state grants.
The Faculty of Arts and Sciences Scholarship program includes more than 1,500 individual endowment funds, established by generous alumni and donors, including a transformational gift from Ken Griffin ‘89. In recognition of their important legacy, we report to many of them annually using the information students share with us over the summer. When you receive scholarship assistance, you may be asked to write a thank-you note to your scholarship donor.
Federal and state grants
If you are a U.S. citizen or permanent resident, you may be eligible for a Federal Pell Grant or a Supplemental Educational Opportunity Grant (SEOG). Your eligibility is determined by the information you provide in your Free Application for Federal Student Aid (FAFSA).
Pell Grants and SEOG are awarded by the federal government and administered by our office, based on financial need. Within 10 days of filing your FAFSA, you will receive a Student Aid Report indicating your eligibility for a Pell Grant. Of the roughly 6,600 current undergraduate students at Harvard College, 16% are Pell Grant recipients.
If you are a Massachusetts resident, you may also be eligible for a state Gilbert Grant, which is awarded on the basis of need. These awards do not affect your term-time work expectation.
If you receive financial aid along with additional funding from outside sources, we will add that funding to your aid package, where it will reduce your work expectation.
Like many of our students, you may receive scholarship funds from sources outside Harvard, such as secondary schools, civic organizations, your parental employers, corporations, the National Merit Scholarship Programs, the G.I. Bill, and the ROTC.
Since the intent of these awards is that they be used for educational purposes, you must report them to Harvard and apply them toward your college expenses. We will consider your outside awards as a part of your overall financial aid funding.
Funds from outside awards are incorporated into your financial aid package in three steps:
First to replace term-time job expectation.
Next to replace summer earnings expectation.
If you have outside awards that exceed your term-time & summer work expectation, the remaining amount would replace an equal amount of Harvard scholarship.
Since outside awards are additional resources that reduce your financial need, they cannot be used to replace your parent contribution.
We expect students to contribute to the cost of their education through summer and term-time employment. Student jobs are plentiful, and our aid package will include a term-time work expectation unless you have substantial outside awards.
Term-Time and Summer Employment
All students, regardless of their financial aid status, may work during the academic year—and in fact, around two-thirds of our students do. If you receive financial aid from Harvard, you will likely be expected to contribute to your education through employment. This may come in the form of term-time work expectation or as part of the Federal Work-Study Program.
Whatever your situation, the Student Employment Office is available to help you find work at University institutions, including libraries, museums, and cafeterias.
All jobs are posted on the website, and we usually have many more job listings than students looking for work. Listings do come and go quickly in the first weeks of the semester, however, so finding the right one can take time and persistence.
Federal Work-Study Program
When you apply for aid, your package will indicate your eligibility for the Federal Work-Study Program (FWSP). If you are eligible, you will be able to work in FWSP-designated jobs at the University. Our advisors will work with you to get you placed.
Unlike FWSP, which is awarded and requires special eligibility, “term-time work expectation” in your financial aid package represents the expectation that you will find work to help cover the cost of your education. Your term-time job is not designated by our office, but we can help you find opportunities for employment.
Your expected term-time work expectation is based on your working a reasonable number of hours during the semester—often around 8 to 12 hours per week.
Your financial aid award will cover your entire demonstrated need without loans, but you may still choose to borrow through several federal loan programs, or through Harvard Loans.
Federal and Harvard Loan Programs (2016-2017)
You are not expected to take out loans as part of your financial aid package. Our aid packages are designed to cover your financial need without additional borrowing. In fact, most of our students graduate debt-free. However, you may choose to pursue loans to help cover your student or family contribution.
If you are interested in a loan, we will help you find one that works for you. You may also consider federal or private parent loans.
Federal loan programs
To be eligible for any of these federal loans, you must complete the Free Application for Federal Student Aid (FAFSA)
Federal Direct Subsidized Stafford Loan
Need-based loan with interest paid by the federal government during enrollment, grace and deferment periods.
Interest rate is based on the 10-year Treasury bill plus 2.05 percent. Interest is capped at 8.25 percent.
Loans are “variable fixed”, meaning borrowers would receive a new rate with each new loan, but then that rate would be fixed for the life of the loan.
Interest rate fixed at 3.76 percent for 2016-2017, with 10 years to repay.
Maximum amounts: $3,500 for freshmen, $4,500 for sophomores, and $5,500 for juniors and seniors.
Net origination fee of 1.068 percent (1.069 for loans first disbursed after Oct. 1, 2016) is included in the loan amount.
Repayment begins six months after the student graduates or drops below half-time enrollment.
Federal Direct Unsubsidized Stafford Loan
Maximum amounts: $5,500 for freshmen, $6,500 for sophomores, and $7,500 for juniors and seniors.
Students eligible for a subsidized Stafford Loan can receive an additional $2,000 unsubsidized.
Non-need-based loan with interest accruing from disbursement; interest can be paid quarterly or capitalized and added to the principal amount when repayment begins.
Interest rate, fees, and repayment are the same as the Subsidized Stafford Loan.
In addition to several federal options, which have specific eligibility requirements, we offer the Harvard Loan Program, which is available to you no matter your federal loan eligibility.
Need-based loan with interest paid by Harvard during enrollment, grace, and deferment period.
Interest rate fixed at 5.0 percent with 10 years to repay.
No origination or insurance fees.
Repayment begins six months after you graduate or drop below half-time enrollment.
The monthly payment will be $10.61 per $1,000 borrowed, or a minimum of $50.
Does not require eligibility for federal loan programs.